Twist Bioscience Corporation

twistbioscience.com

What Do They Do?

Sells DNA-sequencing sample-preparation tools, synthetic DNA products and antibody-discovery services to healthcare and research organizations, biotechnology and pharmaceutical companies, and industrial and agricultural businesses.

How Do They Make Money?

NGS and synthetic DNA customers pay agreed order prices when products ship. Biopharma partners pay upfront or milestone fees and for research work as it progresses; some agreements also include license fees.

revenue

Segment	Share	How money arrives
Synthetic genes Sold outright	30% FY2022: 30%	Sold outright
Oligo pools Sold outright	5.4% FY2022: 6.1%	Sold outright
DNA libraries Sold outright	3.0% FY2022: 3.0%	Sold outright
Antibody discovery Mix	6.2% FY2022: 12%	Mix
NGS tools Sold outright	55% FY2022: 49%	Sold outright

Who Are Their Customers?

Customers can place customized DNA orders through Twist’s online store or buy through its direct sales teams, commercial consultants and distributors.

Do Revenues Turn Into Profits?

No. It lost $77.7M in FY2025.

Operating income, FY2025

−36% of revenue

▼ −38% (Loss) vs FY2024 (−$220.8M, −71%)

Net income, FY2025

−21% of revenue

▼ −63% (Loss) vs FY2024 (−$208.7M, −67%)

Free cash flow, FY2025

−20% of revenue

▲ +9% (Loss) vs FY2024 (−$69.2M, −22%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +23%; vs $96.1M in Q3 FY2025
Net income: ▼ Now a loss; vs $20.4M in Q3 FY2025

NGS applications share of revenue vs 57.6% in Q3 FY2025

Aug 3, 2026 Raised fiscal 2026 revenue guidance Raised the full-year revenue range to $456 million to $457 million from prior guidance of $442 to $447 million.

Growing. Revenue grew 2.8x in 4 years, from $132.3M in FY2021 to $376.6M in FY2025, about 30% a year.

DNA data storage The older report described DNA data storage as an application for synthetic DNA and a market opportunity; the latest report says Twist sold the business and licensed its technology to Atlas.

Biopharma services The older report described biologic drug discovery as an expansion opportunity; the latest report says Twist earns revenue from antibody discovery, optimization and development services.

Revenue over time

Synthetic genes Oligo pools DNA libraries Antibody discovery NGS tools

$500M$250M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with GenScript Biotech, ATUM, Elegen, Ansa Biotechnologies, Telesis Bio, Illumina, Roche Holding, New England Bioloabs, Watchmaker Genomics, Agilent Technologies, Curia Global, Genovac, FairJourney Biologics, IONTAS, Adimab, Ablexis, Specifica, OmniAb, Alloy Therapeutics, and AbCellera Biologics

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